Both companies plan to cooperate with third-party markets to achieve growth
An official of the National Development and Reform Commission said that China and Austria will sign a memorandum of understanding on third-party market cooperation on Sunday, as the two countries hope to further develop through the “Belt and Road Initiative” framework.
Wang Jianjun, director of the Foreign Investment and Overseas Investment Department of the National Development and Reform Commission, said that the two companies will have more opportunities and favorable conditions.
“The two companies are highly complementary, and the potential for cooperation in the third-party market is huge and the prospects are broad,” Wang said. “Austria has unique advantages in the fields of mechanical equipment manufacturing, environmental protection, engineering design and healthcare. China has extensive experience in infrastructure, energy development, machinery and financing.”
Wang delivered a speech at the China-Austria Third Market Cooperation Forum held in Beijing on Friday.
Wang said that the National Development and Reform Commission will actively cooperate with the Austrian Federal Ministry of Digital and Economic Affairs to establish a third-party market cooperation platform to promote cooperation in projects, companies and financial support.
Statistics from the Ministry of Commerce show that China is still one of Austria’s top five trading partners, and the trade volume between the two countries increased by 16.2% year-on-year to US$9.75 billion in 2018.
“By benefiting from the open market, China has made tremendous technological advances and has become an active participant in world trade,” said Richard Skates, vice chairman of the Austrian Federal Chamber of Commerce. “Therefore, Austrian companies have provided their expertise and technology to Chinese partners not only in China but also outside China, and these opportunities have changed.”
Schenz cited a recent survey conducted by the Chamber of Commerce’s Beijing office, saying that 28% of Austrian companies surveyed in China said they are doing business with Chinese partners outside China. The company said that another 38% of respondents said they are considering doing so in the near future.
Chen Wanjie, dean of the Confucius Institute at the University of Graz in Austria, said that he saw great potential for cooperation between the two countries in the third-party market.
“Although 99% of Austrian companies are small and medium-sized enterprises, many of them have advanced technologies. Combining China’s large-scale production capacity with Austria’s high technology, I believe there is a promising future. It will also support development. Third-party market.”
In recent years, many Chinese companies are strengthening their global operations and are actively participating in the “Belt and Road” initiative countries and regions.
China Construction Engineering Co., Ltd. is one of the growing Chinese companies and has established a larger market worldwide. To date, it has established more than 6,000 projects in more than 130 countries and regions with a total revenue of more than $100 billion.
“We believe that the cooperation between the Austrian and Chinese companies will fully complement each other’s strengths,” said Jin Jiangping, vice president of international operations of China State Construction Engineering Corporation.
“Austrian companies have a better understanding of Central and Eastern Europe. It has a geographical advantage and is highly competitive in design consulting and technical standards,” Kim said. “We are willing to cooperate with Austrian companies in Central Europe, Eastern Europe and other third-party markets for mutual benefit.”
